HiTech
Short

GBPJPY SHORT TRADE SETUP

FX:GBPJPY   British Pound/Japanese Yen
276 19 3
Detailed on the chart
already in buddy :-)
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HiTech PRO InfinityForex
nice :)... based on your own analysis?
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yes :-)
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How about if it closes above the resistance?
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HiTech PRO Mythril
There was a spike above the resistance testing 178.38. Only close above that could push it further up
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Hello, be carefull, the bullish momentum is becoming strong on all GBP pairs. Take a look at D1 charts of GBP related pairs: GPBNZD, GBPAUD, GBPCAD, GBPCHF... this can give you a better direction. Best regards
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HiTech PRO FullTimeTrader
Agree on gbp strength, but jpy should be stronger for few days at least, after that trade will expire
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I wish this trade will work. From my personal experience its better to think consistently: we cannot have a bullish bias on all GBP pairs and a bearish bias on this one. It a game of probabilities: now a bullish direction is more probable
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HiTech PRO FullTimeTrader
again agree, but if strategy says go, I go ... these are the rules, in any case the exposure is minimal on this setup
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Salty FullTimeTrader
I was always a big proposer of divergences, and on stochastics seeing that H4 and Daily are showing bullish divergence and US CB indicator showing a better than expected improvement I would say that it is more probable to see an uprise toward 38.2 fibonacci, anyway this idea may still work in a short-term setting.
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Salty Salty
Daily and H4 Bullish Divergence + Fundamentals, Wait for Tankan

Just sharing my chart
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Thank you for sharing, but consider tomorrow's news on JPY, I think it will give it a lot of strength, making GBPJPY weaker than any other GBPXXX
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Salty HiTech
Partially agree, I'd would say EURJPY is the most fragile, technically and fundamentally as well. Anyway I hope that your trade will be a winner one.
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Must disagree on EURJPY being the weakest amongst JPY pairs, I'd say its NZDJPY
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Salty HiTech
Oh yeah, you're right, I wasn't watching that one. :)
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I almost had confirmation few days back but as it moved to fast i decided not to enter due to poor risk reward
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Salty HiTech
I'd say a short order at 89.39 with an SL of just 20 pips wouldn't be that bad. And take 88.93 as target (61.8 fib)
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